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ANNUALREPORT2015
100FillmoreStreet,5thFloor
Denver,CO80206
Phone:303.832.3200Fax:303.832.4176
www.kennethkingfoundation.org
CONTENTS
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TableofContents
ALetterfromtheBoardChair&President..........................................................................................2RevenueandExpenses(cashbasis).......................................................................................................4BoardofDirectors/KeyStaff.....................................................................................................................5GrantsbyProgramArea.............................................................................................................................6FundingbyProgramArea&Region.......................................................................................................8ContactInformation.....................................................................................................................................9
KENNETHKINGFOUNDATION
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ALETTERFROMTHEBOARDCHAIR&PRESIDENTDearFriendsoftheKennethKingFoundation:
Enclosedpleasefindthe2015KennethKingFoundationAnnualReport.
In2015,theKennethKingFoundationmade$487,700ingrantstoColorado-basednonprofitorganizations.MostofourfundingwasgearedtowardscreatingmeaningfulemploymentandentrepreneurshipopportunitiesforColorado’sat-risk.Wecontinuedtofundorganizationsthatdeliverbasichumanneedstothosewhoneeditmostandtoalesserdegree,supportedColorado’sartsandcultureorganizations.
OursecondyearfundingjobscreatedthroughentrepreneurshipprogramscontinuedwithinvestmentsinorganizationssuchastheRockyMountainMicrofinanceCenter,ACCION,EmilyGriffithTechnicalCollegeandMiCasaResourceCenter.Wewillcontinuetofundinareassuchasthisin2016.
Coloradoisrankedthe2ndmosthighlyeducatedstate1,isconsideredthetopstateforlaborsupply2andDenverisconsideredthe3rdeasiestcityinthenationtofindajob3.SkilledworkerscontinuetomovetoDenver,purchasinghomesandsecondhomesandsecuringhigh-payingjobs.Alloftheseeconomicindicatorsaregoodnewsforsomebutnotallofus.
Withalowerthannationalaverageunemploymentrateof3.4%4,Denver’sboomingeconomyisincreasingthecostoflivingatafasterpacethanthenationalrateofinflation,+13.6percentsince20095.Personalexpensessuchasrent,groceries,energyandfuelarerisingfasterthanwages,makingitdifficultfornon-skilledworkerstokeepupwithourstate’scostofliving.And,manyofthenewjobscreatedinColoradoareatthelowerendofthepayspectrum,orhavebeenscaledbacktoparttime,resultingindifficultiesmakingendsmeet.Given25%oftheDenverMetroArea’shomelessreportedhavingreceivedmoneyfromworkinginthelastmonth6,improvingaccesstomoremeaningfulemploymentandentrepreneurshiphasameaningfulimpactonnotonlyimprovingstandardofliving,butsecuringpermanenthousingforthehomeless.
ThenonprofitorganizationsweservecontinuetorespondtotheneedsofColorado’sat-riskpopulation,identifyingandaddressinginequitiesamongtheuneducatedandunder-employedpopulation,whorequireamultitudeofcreativesolutionsrangingfromemergencyservicestojobtraining.AsKennethKingrecognizedwhenheestablishedhisFoundationin1990,employmentandremovingthebarrierstoemploymentcontinuetobepromisingpermanentpathwaysoutofpoverty.
1MetroDenverEDC,20142Forbes,20153Forbes,20154May2015-StateDemographer’sJobsReport5U.S.BureauofLaborStatistics62015MetroDenverHomelessInitiativeMetroDenverPointInTimeReport
ALETTERFROMTHEPRESIDENT
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In2016,theFoundationcontinuestoexpanditsimpactinvestingprogram.Weseegreatpotentialinleveragingourgrantmakingdollarstostrengthenmicroloanprograms,socialenterprisesandentrepreneurshipprogramsacrossurbanandruralColorado.Weencourageorganizationsinterestedinexploringimpactinvestingtocontactus,eitherbyphone,303-832-3200oremail,[email protected].
Wecontinuetobeinspiredandawestruckbytheperseverance,flexibilityandcreativityofColorado’snonprofitsector.Thankyouforallowingusthisopportunitytoservethosewhoneeditmost.
WithGratitude,
TimWelker JaniceFritschBoardChair President
KENNETHKINGFOUNDATION
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REVENUEANDEXPENSES(CASHBASIS)
Revenues: Interestanddividends $ 1,604,322Netrealizedgainonsaleofinvestments 2,149,871OtherIncome 763 Totalrevenues
3,754,956
Grantspaid 487,700Othergrantespenses 174,079Administrativeexpenses 721,852Rental,realestateandotherinvestmentexpenses 76,561Excisetax 147,409 Totalexpenses
1,607,601
Changesinnetassetsnotreportedunderthecashbasismethodofaccounting: Decreaseinunrealizedappreciationofinvestments $ (921,358)
BALANCESHEET(CASHBASIS)
Assets:
NetAssets:
TheFoundation’sfinancialstatementsareauditedby
Kundinger,Corder&Engle,P.C.Acopyoftheauditedfinancialsisavailableuponrequest.
Expenses:
Changesinnetassets $ 2,147,355
Cashandmoneymarket $ 305,621Commonstockatfairmarketvalue 43,885,932Partnershipinterestatfairmarketvalue 271,428Otherinvestmentsatfairmarketvalue 40,000 Totalcashandinvestments 44,508,981Leasedeposits 5,178 Totalassets $ 44,508,159
Unrestrictednetassetsatfairmarketvalue $ 44,508,159 Totalnetassets $ 44,508,159
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BOARDOFDIRECTORS/KEYSTAFFT.E.Welker,BoardChairMatthewR.Banner,III,DirectorJohnLove,Treasurer/Director
JaniceK.Fritsch,President
GRANTMAKINGGUIDELINESInfourthquarterofthecalendaryear,theFoundationextendsinvitationstoorganizationsthatdeliverbasichumanservices,jobcreationandartsandcultureprograms.TheFoundationreviewsproposalsinthefirstquarteroftheyearandmakesfundingdecisionsinthesecondandthirdquarter.Formoreinformation,pleasevisitourwebsiteatwww.kennethkingfoundation.org.
KENNETHKINGFOUNDATION
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GRANTSBYPROGRAMAREA
ARTS,CULTURE,ANDTHEHUMANITIES
Organization AmountFundedBroomfieldCivicChorus..........................................................................................................................$2,500CentralCityOperaHouseAssociation...............................................................................................$5,000ColoradoBalletCompany........................................................................................................................$5,000ColoradoSymphonyOrchestra..........................................................................................................$30,000DenverLyricOperaGuild......................................................................................................................$10,000DenverMuseumofNatureandScience............................................................................................$5,000HistoryColorado.........................................................................................................................................$5,000
TotalArts,Culture,andtheHumanitiesFunding-13%$62,500
HUMANSERVICES
Organization AmountFundedBoyandGirlsCluboftheSanLuisValley..........................................................................................$5,000CapitolHillCommunityServices.......................................................................................................$35,000ColoradoLawyersCommittee...............................................................................................................$5,000ColoradoLionsKidSightProgram.....................................................................................................$10,000ComitisCrisisCenter..............................................................................................................................$10,000DeltaGammaAnchorCenterforBlindChildren...........................................................................$5,000DenverCatholicWorkerSoupKitchen..............................................................................................$3,000DenverRescueMission..........................................................................................................................$10,000FirstBaptistChurchofDenver...........................................................................................................$16,000HavenHouse.................................................................................................................................................$5,000MetroCaring...............................................................................................................................................$20,000RockyMountainMSCenter..................................................................................................................$10,000SaintPaulEpiscopalChurch...................................................................................................................$4,000Step13.............................................................................................................................................................$8,415
TotalHumanServicesFunding-30%$146,415
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JOBSANDENTREPRENEURSHIP
Organization AmountFundedACCIONNewMexico...............................................................................................................................$50,000BayaudEnterprises.................................................................................................................................$10,000BlueStarRecyclers..................................................................................................................................$15,000CommunityEnterpriseDevelopmentServices..............................................................................$5,000DowntownDenverPartnership/ChampaCommons..................................................................$4,200EmilyGriffithFoundation.....................................................................................................................$10,000GoodwillIndustriesofDenver............................................................................................................$40,250JuniorAchievement...................................................................................................................................$5,000KimEquinePavilionandEducationCenter.....................................................................................$5,000MiCasa..........................................................................................................................................................$25,000MuseumofFriends.....................................................................................................................................$5,000RockyMountainInnovationInitiative.............................................................................................$10,000RockyMountainMicroFinanceInstitute........................................................................................$50,000SaguacheWorks........................................................................................................................................$10,000SpringInstitute.........................................................................................................................................$10,000
TotalEntrepreneurialismFunding-52%$219,450
EDUCATION
Organization AmountFundedColoradoCouncilforEconomicEducation......................................................................................$5,000SigmaChiFoundation............................................................................................................................$10,000St.Elizabeth’sSchool..............................................................................................................................$10,000
TotalEducationFunding-5%$25,000
TotalGrantFundingin2015$487,700
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FUNDINGBYPROGRAMAREA®ION
2.05%
2.05%
3.00%
1.02%
91.81%
OutofState$10,000
Southeast$10,000
SanLuisValley$15,000
HeartofColorado$5,000
FrontRange$448,365
DollarAmountPercentageofGrantsByRegion
$62,500
$146,415
$219,450
$25,000
Arts,Culture,andtheHumanities
HumanServices
JobsandEntrepreneurship
Education
FundingbyProgramArea
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CONTACTINFORMATION
KennethKingFoundation
100FillmoreStreet,5thFloorDenver,CO80206
Phone:303.832.3200Fax:303.832.4176